- Pi Network upgrades its blockchain protocol, leading to a 3% rise in Pi Coin.
- Institutional interest grows with the launch of Pi Network ETP.
- Market optimism builds, but Mainnet launch timeline remains uncertain.
The protocol upgrade boosts confidence in Pi’s technical advancements, attracting institutional interest, yet volatile market reactions continue amid questions on Mainnet readiness and extended utilitarian scope.
The Pi Network upgraded its blockchain protocol to version 20 on Testnet, marking a key milestone in its path to Mainnet. The upgrade coincided with a 3% rise in Pi Coin’s price.
Pi Network is led by CTO Nicolas Kokkalis and Head of Product Chengdiao Fan. The project aims to gradually upgrade to version 23 with active community involvement.
The upgrade enhanced blockchain functionalities, aiming for greater stability and account mapping, amidst community anticipation. Institutional interest was highlighted by a major firm’s launch of a Pi Network ETP.
While the Pi Coin price saw an uptick, the broader crypto market, including major cryptocurrencies like ETH and BTC, largely remained unaffected by the upgrade.
The increased institutional interest suggests potential financial growth, although regulatory responses remain unchanged. As Mainnet approaches, technological adaptations will be closely monitored.
Historical data shows that protocol upgrades tend to briefly influence Pi Coin prices, but sustained market effects depend on successful Mainnet implementation and broader ecosystem activities. According to Dr. Altcoin, Pi Network Advocate, “Pi Network has upgraded its blockchain protocol from version 19 to 20, currently on Testnet. This process is expected to be a gradual upgrade leading up to version 23.” source
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